FUEL PUMP PRICES MAY INCREASE NEXT MONTH DUE TO DEPRECIATION OF KWACHA
Tinkerbel Mwila
The Zambia Association of Manufacturers-ZAM- is concerned that the continued depreciation of the Kwacha may result in an upward adjustment of fuel pump prices next month.
ZAM president Ashu Sagar says despite the cost of production for some companies going down this month due to the reduction in fuel pump prices, the effect of the reduction may only be for a short period as the prices may go up next month.
Mr Sagar is therefore of the view that monthly reviews of fuel pump prices by the Energy Regulation Board-ERB- will make it difficult for businesses to plan.
He says owing to lack of stability in the local currency, the monthly reviews of petroleum products remains a matter of concern to manufacturers despite the move being positive.
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